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THE ASSOCIATES TO ACQUIRE ASSETS OF FIRST FAMILY UNIT OF FIRST FINANCIAL MANAGEMENT CORPORATION

 THE ASSOCIATES TO ACQUIRE ASSETS OF FIRST FAMILY UNIT
 OF FIRST FINANCIAL MANAGEMENT CORPORATION
 DALLAS, Oct. 5 /PRNewswire/ -- Associates Corporation of North America announced today that an affiliate has entered into a definitive agreement to purchase substantially all the assets of First Family Financial Services, Inc., from First Financial Management Corporation (NYSE: FFM) (FFMC), subject to federal and state regulatory approvals.
 In addition, FFMC will provide certain information processing services to The Associates.
 The Associates is part of the Financial Services Group of Ford Motor Company (NYSE: F).
 First Family is a consumer finance company based in Atlanta. It has assets of $602 million and operates 192 offices in eight southeastern states, providing consumers with personal and residential real estate- secured loans. It is a unit of FFMC's Georgia Federal Bank.
 "First Family is a well-respected consumer finance company and we are pleased with the prospect of its operations becoming part of our network of consumer finance offices," said Reece A. Overcash Jr., chairman and chief executive officer of The Associates. "First Family will further strengthen our company's presence in the Southeast."
 The Associates, based in Dallas, is the nation's second-largest independent finance company. It manages assets of $25 billion and provides consumer finance, commercial finance and leasing and insurance through more than 1,100 offices in the United States, Japan, the United Kingdom and Canada.
 FFMC, based in Atlanta, is a national leader in information services, offering a vertically integrated set of data processing, storage and management products for the capture, manipulation and distribution of data. It also owns the largest savings institution in Georgia.
 -0- 10/5/92 R
 /CONTACT: Fred Stern of The Associates, 214-541-4042/
 (FFM F) CO: The Associates; First Family Financial Services, Inc.; First
 Financial Management Corporation ST: Texas, Georgia IN: FIN AUT SU: TNM


SB -- DE008 -- 6498 10/05/92 10:36 EDT
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Publication:PR Newswire
Date:Oct 5, 1992
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